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Fly News Breaks for December 17, 2019
GRPN
Dec 17, 2019 | 06:14 EDT
Goldman Sachs analyst Michael Ng downgraded Groupon to Sell from Neutral with a $2.40 price target. The analyst cites execution risks in North America following 7 consecutive quarters of customer declines going back to Q1 of 2018, with traffic headwinds in the market weighing on the company's revenue, billings, and gross profit declines anticipated for 2020-21. Ng remains positive on Groupon's international opportunity longer term, but also points to the recent negative inflection in the overseas markets.
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